BAKU, Azerbaijan, April 25. Four packages of social reforms have been implemented in Azerbaijan over the past five years, Labor and Social Protection Minister Sahil Babayev said during the conference on the new period of Azerbaijan's socio-economic development, Trend reports.
“Within the framework of successes accomplished over the last five years, it is worth noting that the country's minimum salary has climbed 2.8 times, as has the labor remuneration fund. In other words, increasing the country's labor recompense fund by nearly three times and raising the minimum salary by 2.8 times in a short amount of time (five years) is an outstanding feat. And this growth dynamic is the primary focus of labor market regulation, as well as providing more good work for our population. In terms of the Ministry's current key priorities, I would like to highlight the increase in the quantity and diversity of corporate social responsibility programs and projects, as well as the future extension of projects,” he said.
To note, the average monthly nominal salary of hired workers in Azerbaijan from January through February 2024 increased by 10.8 percent compared to the same period last year and amounted to 946.8 manat ($556.6).
Wages in the oil and gas sector amounted to 3,438 manat ($2,021) and in the non-oil and gas sector - 899.7 manat ($528.9). Salaries of employees of state-owned enterprises amounted to 901.8 manat ($530.1) and private enterprises - 996.5 manat ($585.7).
According to the data of the ministry, the highest wages were recorded for workers in the mining sector, insurance and finance, information, and communications, as well as in the field of scientific and technical activities.
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